Digital Marketing Industry kicked off in 1994 with the world’s first banner advertisement. Back then only few were aware of the happenings in the web world. Today, internet is considered as the most forward-looking media.
You might be asking, what’s the point in going through the history and evolution of the industry. Answer – Because the common flaw which occurs is, marketers forget that the current trends in Digital Marketing have sprouted from seeds planted many years ago. Apart from some drastic challenge exceptions, every problem you face in this field is as a part of evolution of existing trends that mark major pivot points of change.
If you are considering the social media stats alone, there are roughly more than 1 billion active Social Network users. Experts suggest that they all should be considered as influencers who have the Power to Help (or Harm) your business goals.
The American information technology research and advisory firm Gartner Inc. reported that one out of every four marketing dollars is spent online. Yeah! 25% of all marketing is now digital.
Another bitter truth noted lately is that even after all the technological advancement in digital marketing, billions of dollars are spent on conventional offline advertising like television commercials, radio ads, print ads etc. If it’s possible to gradually converge your offline and online video based advertisements, your company can make wonders within a short period of time. Also, latest reports suggest that Micro videos will continue to rise in “Macro” popularity! 6 to 12 seconds Videos are drastically gaining attention. So next time try to convey the idea in shorter videos, because clients are losing their patience. You may keenly reduce the running time of videos gradually for the greater good of your firm.
Another interesting point which turned up in surveys conducted is that, over the past 5 years customer expectations have increased on an average of 20%, while big brands have kept up by only 5%. These numbers prove that marketers are not valuing the feedback from the audience. Once the marketing team is able to bridge the gap between what clients desire and what’s delivered, the ROI will be doubled.
The above mentioned points may sound just like mere deductions of experts. But if you consider these as a group of issues to be solved, you will get a better picture of the loss you are about to face if you avoid these now.
PS: Believe it or not, as per College of Digital Marketing lead, the value of digital marketing in India is estimated to be around Rs 2,000 crore and the demand is easily 100 percent more than the existing supply, in terms of manpower resources alone.